Fannie Mae Announces Nineteenth Reproductive Loan Sale
WASHINGTON, March 9, 2021 / PRNewswire / – Fannie Mae (OTCQB: FNMA) today began marketing its nineteenth reproductive loan sale as part of the company’s continued efforts to reduce the size of its retained mortgage portfolio.
The sale consists of nearly 25,000 loans with an outstanding principal balance of approximately $ 3.5 billion, and is available for purchase from qualified bidders. Interested bidders can register on the Whole Loans Sales Page.
This reproductive loan sale is marketed in conjunction with Citigroup Global Markets, Inc. Offers are due on March 30, 2021.
Reproductive loans are loans that were previously in arrears but have been repaid for a period of time. The terms of the sale of the Fannie Mae Reproductive Loan require the buyer to provide loss mitigation options designed to be sustainable to any borrower who is likely to default within five years of the closing of the sale of the reproductive loan. In addition, buyers must be accountable for the results of loss mitigation. Any reporting obligation ceases once a loan has been outstanding for twelve consecutive months after the reproductive loan sale closes.
Interested bidders can register to receive announcements, training and other current information. here. Fannie Mae will also post information on specific pools available for purchase on this page.
About Fannie Mae
Fannie Mae is helping make 30-year fixed rate mortgage and affordable rental housing possible for millions of people in America. We work in partnership with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risks. To learn more, visit: fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | Youtube | Blog
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